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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported) Janaury 17, 1996
Commission File Number Number 0-16839
PEOPLES FIRST CORPORATION
(Exact name of registrant as specified in its charter)
Kentucky 61-1023747
(State or other jurisdiction of (I R S Employer
incorporation or organization) Identification No.)
100 South Fourth Street
Paducah, Kentucky 42002-2200
(Address of principal exective offices) (Zip Code)
Registrant's telephone number, including area code: (502) 441-1200
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Item 5. Other Event - Information of importance to security holders:
FOR IMMEDIATE RELEASE
Release Date: Janaury 17, 1996
For Further Information Contact: Aubrey W. Lippert
Peoples First Corporation
(502) 441-1200
PEOPLES FIRST CORPORATION ANNOUNCES A 5% STOCK DIVIDEND
PADUCAH, KY -- Peoples First Corporation (NASDAQ/NMS: PFKY) today announced
a 5% stock dividend on Peoples First common shares. The stock dividend is
payable on March 18, 1996 to shareholders of record at the close of business on
February 19, 1996. The stock dividend is in addition to the Company's regular
quarterly cash dividend of $0.15 per share, which is payable on February 15,
1996 to shareholders of record at the close of business on February 1, 1996.
The Company previously declared a 5% stock dividend in 1995.
BOARD OF DIRECTORS AUTHORIZE PURCHASE OF UP TO 400,000 SHARES OF ST
The Board of Directors approved the purchase of up to 400,000 shares
(approximately 4.3% of outstanding shares) of Peoples First common shares in the
open market. Shares acquired may be used in conjunction with Company's stock
dividend program. In announcing the stock buy-back, Aubrey W. Lippert, Chairman
of the Board, President and Chief Executive Officer, said "The Board pursues
capital management with the objective of providing adequate financial strength
to execute flexible business strategies, surpass all regulatory requirements and
leverage stockholders' equity to a desirable degree. We believe our current
financial strength allows the Company to make this expression of confidence in
our future, and the purchase of our stock at current market prices can aid in
the building of shareholder value."
The Company has a policy of maintaining, at a minimum, a capital position
that meets the Federal regulator's "well capitalized" classification. Total
"risk based" capital and leverage ratios were 14.24% and 9.13%, respectively, at
September 30, 1995, both significantly above regulatory capital requirements of
8.00% and 4.00%.
Peoples First Corporation is one of the largest multi-bank holding
companies headquartered in Kentucky with assets of more than $1.2 billion as of
September 30, 1995. Peoples First provides a complete range of commercial and
personal banking services through its 25 western Kentucky banking offices in
Paducah, Calvert City, Benton, LaCenter, Salem, Smithland, Murray, Central City,
Greenville, Beaver Dam, Hartford, Livermore, Morgantown, Mayfield, and Symsonia.
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, on Janaury 18, 1996.
PEOPLES FIRST CORPORATION
By: /s/ Allan B. Kleet
Allan B. Kleet
Principal Accounting Officer
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